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LVR reports local home prices springing forward

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LVR reports local home prices springing forward


LAS VEGAS – A report released Tuesday by Las Vegas REALTORS® (LVR) shows local housing prices springing forward in April, with condo and townhome prices reaching a record high.

LVR reported that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during April was $469,000. That’s up 9.1% from $430,000 in April of 2023. However, local home prices are still below the all-time record of $482,000 set in May of 2022.

2024 LVR President Merri Perry
2024 LVR President Merri Perry

The median price of local condos and townhomes sold in April was $290,000, up 7.4% from $270,000 in April 2023. That’s an all-time high, surpassing the $287,000 mark set in August of 2022.

LVR President Merri Perry, a longtime local REALTOR®, said local home prices have remained resilient this year despite recently rising mortgage interest rates. Despite rising rates, she was pleased to see an increasing number of properties being sold last month.

“Mortgage rates have been slowing down home sales this year, so it’s good to see more homes and condos selling,” Perry said. “Overall, demand continues to outpace the supply of homes here in Southern Nevada, and that’s driving up prices.”

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By the end of April, LVR reported 3,476 single-family homes listed for sale without any sort of offer. That’s down 7.0% from one year earlier. Meanwhile, the 1,248 condos and townhomes listed without offers in April represent a 29.5% increase from one year earlier.

LVR reported a total of 2,960 existing local homes, condos and townhomes sold in April. Compared to April 2023, sales were up 19.2% for homes and up 16.1% for condos and townhomes. The sales pace in April equates to less than a two-month housing supply, which is similar to one year ago and considered low by historical standards.

According to LVR, 2023 was the slowest year for existing local home sales since 2008. LVR reported a total of 29,069 sales of existing local homes, condos and townhomes in 2023. That was down from 35,584 total sales in 2022. That followed a record year for existing local home sales in 2021, when LVR reported 50,010 total properties were sold.

During April, LVR found that 26.9% of all local property sales were cash transactions. That’s up from 22.3% one year ago. That’s well below the May 2013 cash buyer peak of 59.5%.

The number of so-called distressed sales remains near historically low levels. LVR reported that short sales and foreclosures combined accounted for 1.2% of all existing local property sales in April. That compares to 0.8% one year ago, 0.5% two years ago, 0.9% three years ago, 1.5% four years ago and 3.0% of all sales five years ago.

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These LVR statistics include activity through the end of April 2024. LVR distributes statistics each month based on data collected through its MLS, which does not account for all newly constructed homes sold by local builders or homes for sale by owners. Other highlights include:

  • The total value of local real estate transactions tracked through the MLS during April was more than $1.4 billion for homes and more than $193 million for condos, high-rise condos and townhomes. Compared to one year earlier, total sales values in April were up 35.4% for homes and up 28.5% for condos and townhomes.
  • In April, 83.0% of all existing local homes and 84.1% of all existing local condos and townhomes sold within 60 days. That compares to one year earlier, when 71.5% of all local homes and 75.7% of all condos and townhomes sold within 60 days.

About LVR

Las Vegas REALTORS® (formerly known as GLVAR) was founded in 1947 and provides its nearly 17,000 local members with education, training and political representation. The local representative of the National Association of REALTORS®, LVR is the largest professional organization in Southern Nevada. Each member receives the highest level of professional training and must abide by a strict code of ethics. For more information, visit www.LasVegasRealtor.com.



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Analysis: The coming failure of Glen Canyon Dam

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Analysis: The coming failure of Glen Canyon Dam


This story was originally published by High Country News.

Floyd Dominy, the commissioner of the federal Bureau of Reclamation in the 1960s, was largely responsible for the construction of Glen Canyon Dam on the Colorado River. In 1963, when the dam was completed, he could not have foreseen the climate situation we find ourselves in today, with declining snowpack, record-high temperatures and alarmingly low water levels in Lake Powell, year after year. But he and his engineers could have, and should have, foreseen that the way they designed the dam would leave little room to maneuver should a water-supply crisis ever impact the river and its watershed.

Indeed, a state of crisis has been building on the Colorado for decades, even as the parties that claim its water argue over how to divide its rapidly diminishing flows. Lately, things have entered a new and perilous phase. Last Nov. 11 was a long-awaited deadline: Either the states involved — California, Arizona, Nevada, Utah, New Mexico, Colorado and Wyoming — would have to agree on a new management plan, or else the federal government would impose its own, something none of the parties would welcome. Meanwhile, the 30 tribes that also hold claims to the river have historically been and continue to be excluded from these negotiations.

That deadline came and went, and instead of acting, the government punted, this time to Feb. 14. Nobody was surprised: Unmet deadlines and empty ultimatums have been business as usual on the river for years. Decades of falling reservoir levels and clear warnings from scientists about global warming and drought have prompted much hand-wringing and some temporary conservation measures, but little in the way of permanent change in how water is used in the Colorado River Basin. This month’s deadline also came and went.

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For decades, the seven Basin states have used more water than the river delivers by drawing their entitlements from surpluses banked in reservoirs during the wet 1980s and ’90s, chiefly in Lake Mead and Lake Powell. Never mind that those entitlements were based on an over-estimate of river flows in 1922, when the Colorado River Compact was established, rendering the “paper” water of the entitlements essentially a fiction, not to mention a source of continual conflict. That savings account has now been drained: Mead and Powell are each below 30 percent full, and the trend is steadily downward. Global warming has only accelerated the decline: So far this century, the river’s flow has fallen 20 percent from its long-term annual averages, and scientists forecast more of the same as the climate continues to heat up.

Meanwhile, the physical infrastructure that enables Colorado River water management is on the verge of its own real and potentially catastrophic crisis — and yet Reclamation has barely acknowledged this, with the exception of an oblique reference in an unposted technical memorandum from 2024. The falling reservoir levels reveal another, deeper set of problems inside Glen Canyon Dam, which holds back the Colorado and Lake Powell. The 710-foot-tall dam was designed for a Goldilocks world in which water levels would never be too high or too low, despite the well-known fact that the Colorado is by far the most variable river in North America, prone to prodigious floods and extended droughts. But the Bureau, bursting with Cold War confidence — or hubris — chose to downplay the threat. In the record-breaking El Niño winter of 1983, the Bureau almost lost the dam to overtopping, due to both its mismanagement and its design, because the dam lacks sufficient spillway capacity for big floods. Only sheets of plywood installed across its top and cooler temperatures that slowed the melting of that year’s snowpack saved Glen Canyon Dam.

Today, the dam is threatened not by too much water but too little. In March 2023, the water level of Lake Powell dropped to within 30 feet of the minimum required for power generation, known as “minimum power pool.” At 3,490 feet above sea level, minimum power pool is 20 feet above the generators’ actual intakes, or penstocks, but the dam’s eight turbines must be shut down at minimum power pool to avoid cavitation — when air is sucked down like a whirlpool into the penstocks, forming explosive bubbles which can cause massive failure inside the dam.

Even more worrisome is what would happen next. At minimum power pool, the penstocks would have to be closed, and the only remaining way to pass water through the dam is the river outlet works, or ROWs: two intakes in the rear face of the dam leading to four 96-inch-diameter steel pipes with a combined maximum discharge capacity of 15,000 cubic feet per second. However, the ROWs, also known as bypass tubes, have a serious design flaw: They are unsafe to use for extended intervals, and start to erode when the reservoir is low.

In 2023, when the ROWs were used to conduct a high-flow release into the Grand Canyon at low-reservoir levels, there was, in fact, damaging cavitation, and the Bureau has warned that there would likely be more in the event of their extended use. In practice, safe releases downstream may only be a fraction of their claimed capacity — and if the tubes begin to experience cavitation, flows may need to be cut off entirely. Such a scenario would compromise the dam’s legal downstream delivery requirements, or, to put it bluntly, its ability to deliver enough water to the 25 million people downstream who rely on it — as well as the billions of dollars’ worth of agriculture involved. This means that Lake Powell — and with it, the entire Colorado River system — is perilously close to operational failure.

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If reservoir levels drop to the ROWs’ elevation of 3,370 feet above sea level, Lake Powell would reach “dead pool,” where water would pass through the dam only when the river’s flow exceeded the amount of water lost to evaporation from the reservoir. No other intakes nor spillways exist below the ROWs. There is no “drain plug.” Yet there is more dam — 240 feet more before the bottom of the reservoir, effectively the old riverbed. This not-insignificant impoundment — about 1.7 million acre-feet of water — would be trapped, stagnant and heating in the sun, prone to algal blooms and deadly anoxia. The lake would rise and fall wildly, as much as 100 feet in a season, because of the martini-glass shape of Lake Powell’s vertical cross section.

Insufficient or no flows through Glen Canyon Dam would be a disaster of unprecedented magnitude, affecting vast population centers and some of the biggest economies in the world, not to mention ecosystems that depend on the river all the way to the Gulf of California in Mexico. The Lower Basin states of California, Arizona and Nevada warned as much in a recent letter to Interior Secretary Doug Burgum, saying that Reclamation’s failure to mention the dam’s plumbing problems in its current environmental impact statement for post-2026 operations is against federal law. The letter reads: “Addressing the infrastructure limitations may be the one long-term measure that would best achieve operation and management improvements to the Glen Canyon Dam.”

To date, however, the Bureau has made no formal response.

One thing is clear: Glen Canyon Dam will need to be modified to meet its legal and operational requirements. In the process, the health of the ecosystems in Glen Canyon, above the dam, and in Grand Canyon, below it, must be considered. The best way to avoid operational failure and the economic and ecological disasters that would follow is to re-engineer the dam to allow the river to run through it or around it at river level, transporting its natural sediment load into the Grand Canyon.

As it happens, Floyd Dominy himself provided us with a simple and elegant plan for how to do it. In 1997, the former commissioner sketched on a cocktail napkin how new bypass tunnels could be drilled through the soft sandstone around the dam and outfitted with waterproof valves to control the flow of water and sediment. What it prescribes is treating the patient — the Colorado River, now on life support — with open-heart surgery, a full bypass. Dominy’s napkin, which he signed and gave to my colleague Richard Ingebretsen, the founder of Glen Canyon Institute, is effectively a blueprint for a healthier future for the Colorado River and the people and ecosystems that depend on it.

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But the window for action to avoid dead pool is dauntingly narrow and closing fast, especially given the time that would likely be required for the government to study, design and implement a fix. The Trump administration’s gutting of federal agency expertise and capacity adds yet more urgency to the issue. The feds and the basin states need to look beyond the water wars and start building a lasting, sustainable future on the Colorado River.

Wade Graham is a historian and writer based in Los Angeles. He is the author of books on landscape, urbanism and environmental history. Since 1999, he has been a trustee of the Glen Canyon Institute.



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Nevada treasurer sends $2.1 billion payment request to President Trump after tariff ruling

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Nevada treasurer sends .1 billion payment request to President Trump after tariff ruling


A landmark decision handed down by the Supreme Court on Friday ruled President Trump is not authorized to impose tariffs.

The high court’s 6-3 decision found that the Constitution allows Congress the power to impose taxes and duties.

Here in northern Nevada, shoppers leaving the Reno Costco were glad to hear their grocery bill could be coming down soon.

“I’ve definitely seen an increase of price over the last year, so I’m looking forward to hopefully seeing something that’s more reasonable,” said Reno resident Jeffrey Saker.

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“I was very happy that the Supreme Court would stand up to Trump and his tyranny,” said Reno resident Cliff Young.

Prior to Friday’s ruling, the federal government collected more than $130 billion in tariff revenue. So, what happens to that money now?

Nevada Treasurer Zach Conine wants those dollars back in your pocket. He sent the Trump administration a $2.1 billion bill, accounting for the roughly 1.2 million Silver State households.

Data from the minority membership of the U.S. Joint Economic Committee shows the Trump administration’s tariff actions have cost American consumers $231 billion, roughly coming out to $1,744 per household.

Bruce Parks, Chairman of the Washoe County Republican Party, said he wasn’t surprised by the court’s ruling, but has other ideas for what the government should do with that money.

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“Use every penny of that to pay down our national debt,” Parks said.



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Las Vegas sign glows green to salute Girl Scouts of Southern Nevada

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Las Vegas sign glows green to salute Girl Scouts of Southern Nevada


Clark County Commissioner William McCurdy II hosted a ceremony at the Welcome to Fabulous Las Vegas sign on Thursday to honor the Girl Scouts of Southern Nevada.

The iconic landmark was illuminated in green to recognize the organization’s commitment to youth leadership and entrepreneurship.

“The Girl Scout Cookie Program represents much more than a fundraiser — it’s a powerful platform for developing the next generation of leaders and entrepreneurs in our community,” said Commissioner William McCurdy II.

“These young women learn invaluable skills in business, finance, and goal-setting that will serve them throughout their lives. We’re proud to light up this iconic sign in recognition of their tremendous impact across Southern Nevada.”

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There will be opportunities to see the life-size Girl Scout Cookie Box at the following locations during National Cookie Weekend, February 20–22, 2026:

  • Saturday, February 21, 9 a.m.–2 p.m. – Downtown Summerlin Farmers Market
  • Sunday, February 22, 10 a.m.–2 p.m. – The UnCommons in The Quad

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The Girl Scouts have a rich history in Clark County, offering programs that build leadership skills and civic responsibility, including the globally recognized Girl Scout Cookie Program, which teaches girls goal-setting, financial literacy, and business management.



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